Let’s Go Crevicing for Gold
January 2008 by Chris RalphPeople have been looking for gold in every manner possible since the big gold boom in 1849, so what chance do we have of getting anything in today’s world where literally thousands of prospectors and fortune seekers have been before us?
...we are beginning to believe that there is a Grinch out there who steals every rally away from the gold market! There is almost no other explanation for what is going on.
I’d like to offer some practical comments about staking and maintaining mining claims. Owning your own claim is the dream of many prospectors. I’ve made good money off my mining claims, both from the minerals I have found on them as well as from leasing out some of my claims to larger mining and exploration companies.
Everyone can deduct all of the ordinary and necessary expenses of conducting a trade or business. But how can anyone hope to refute the IRS’s labeling of their activity as a hobby or, probably more importantly, hope to achieve the label of a tax business?
The findings substantiate what the Northwest Mining Association (NWMA) has been saying since Department of Interior Secretary Bruce Babbitt first began an ill-conceived rule making over three years ago.
When you think about the extremes to which a miner will go to get a little gold, it occurred to me beach gold could be "easy pickings."
• Fed up with the feds
The Journal Welcomes Chris Ralph as Associate Editor • The Bawl Mill • Global Hunter • New Study of the Formation of Nuggets—Part II • Michigan DEQ Approves Upper Peninsula Mine • Mining Restrictions Lifted in Southwest Alaska • Silver Bonanza in the Sierra Madre: The Glorious Past of Batopilas—Conclusion • 2007 Annual Photo Contest Winners • Exploring La Trinidad Mine • There’s Still Gold In Oregon’s Umpqua River • Melman on Gold & Silver • Mining Stock Quotes and Mineral & Metal Prices